AT&T Throws Off Cash as Earnings Top Expectations

AT&T


‘s fourth-quarter earnings beat Wall Street’s estimates. A key metric for the wireless company also came in higher than expected. 

For


AT&T


(ticker: T), the driver this earnings season is free cash flow. The company reported $14.1 billion in cash flow for 2022, a smidgen higher than management’s prior guidance and the $13.8 billion estimate among analysts tracked by FactSet. AT&T set the 2023 forecast at $16 billion or more, matching estimates of $16.2 billion. Wall Street predictions for AT&T’s this year’s cash flow are down nearly 20% from mid-last year.